The web’s most detailed review of Mecatox: If you are looking for an exchange to trade hundreds of altcoins without KYC you are going to find Mercatox interesting. The exchange as over 700 altcoin trading pairs with a mix of several legacy coins and new digital assets that have just reached the market. Simplicity and speed are two words that define the exchange and I think most beginner crypto-traders should give it a try. Mercatox delivers great charting with technical indicators and the option to enter and exit the market instantly with one-click trading. To learn more about how Mercatox has survived since 2016, read our full review before getting started.
• Simplistic exchange that is easy to use for beginners
• 700+ altcoin trading pairs listed
• Option to trade anonymously without KYC
• No live chat is available
• Non-regulated cryptocurrency exchange
• Lacking educational material for first beginner crypto-traders
In this section of our Mercatox review we have highlighted 6 special features that sets them apart when compared to other platforms.
Mercatox is a centralized cryptocurrency exchange with a large presence on the altcoin trading scene with nearly 750,000 users in total and a huge variety of trading pairs among hundreds of different popular and more exotic altcoins. The common goal of the team behind the exchange is to deliver fast and easy-to-access crypto trading to the global crypto scene, something that they have managed to grow since back in 2016.
Mercatox is a non-regulated crypto exchange it is possible to trade crypto anonymously without KYC documents, a feature that has attracted a great following during the last years as the regulators put a lot of pressure on new exchanges to collect information on all their traders. Mercatox is based in the Marshall Islands and the main company operating the business is called MX Digital LTD.
Why use Mercatox
The main selling point of this exchange is for sure the KYC-free environment for all traders who join the community as well as the fast and easy-to-use trading interface that is powered by their own trading platform and Tradingview charts. If you are a trader that is into altcoin trading you are going to have a great time on Mercatox considering that they have one of the biggest pools of tradable digital assets out of all popular exchanges and the number of listed coins keeps growing every month.
The benefit of Mercatox is that you can trade many exotic crypto gems that have been released very recently to have a head start over other crypto enthusiasts who are looking to invest or trade these coins. The signup process is very fast which mean that you can create an account, transfer funds, and start trading within minutes if you are eager to get into the markets.
There is also a chat room on Mercatox where traders can discuss the market situation, ask questions about technical analysis, and promote some of their favorite coins. This creates a good sense of community that I know all traders would appreciate.
Payment Methods and Limits on Mercatox
The only way to deposit money on Mercatox is with cryptocurrency to your wallet on the exchange. The minimum deposit limit is BTC 0.0001, the minimum withdrawal limit is BTC 0.001, and the maximum withdrawal limit is BTC 5 daily if you have verified your identity.
If you choose to not send in your KYC documents your daily withdrawal limit is BTC 1 per day.
How to use Mercatox
The platform is incredibly easy to use and I think this is one of the big reasons that the exchange has gotten such a big following. To deposit crypto and start trading after creating an account simply follow these steps:
- Click E-Wallet in the main menu.
- Choose the coin you want to transfer to Mercatox.
- Click Deposit.
- Copy the wallet address you are given.
- Use this wallet address to send your tokens from your other exchange.
- Once the blockchain transaction has been verified your coins will arrive in your Mercatox wallet.
- Click Trade in the main menu.
- Choose your favorite trading pair in the top right corner of the trading interface.
- Select order type and the amount you want to trade.
- Click BUY.
That’s it. This process is very easy to execute and once you have transferred your tokens to the exchange you are free to trade any of the 700+ crypto trading pairs available.
What sets Mercatox apart
After reviewing Mercatox and doing a full evaluation of the platform, I think that the main reason why traders choose this platform before others is due to the speed of transaction, the easy-to-use interface, and the amount of altcoins listed on the exchange. These three advantages are what makes Mercatox stand out among its competitors.
Things to improve on
After browsing the exchange for a while and boiling down all the good parts the only improvement I can see is that Mercatox is lacking a live chat support channel and a good fiat on-ramp for direct payments with credit cards. Thes are two improvements that would boost the exchange overall in user-experience and accessibility for even more traders.
However, these are minor pitfalls and I still recommend that you give it a try if you are deep into altcoin trading!
Mercatox Trading Fees
About the special features on Mercatox
The most important features of the platform are for sure the number of listed coins that are available for all trader no matter the geographic location and the seamless trading interface that every new trader can understand and use from day one. The chat room is another interesting feature that we don’t see very often and it gives a good sense of community among all traders online on the platform.
Mercatox has an IP whitelist where you can add your home IP-address that you use to log in to the exchange. This is a safety feature combined with the email verification and 2fa verification code is more than enough to protect your account. What stands out in the trading interface is the separated buy and sell orders which normally are clustered together in the same feed but Mercatox has decided to make it easier for tape-readers to trade with order flow by doing it this way, I like it!
Mercatox Loyalty Program
Ok, so you are a fan of Mercatox and want to help promote the platform and earn some nice rewards in return. Great, then I recommend that you head over to your Profile tab and click the Loyalty Program tab. from here you can read up on all the conditions you need to meet to become a loyal member and earn extra rewards such as fee discounts, double affiliate program, premium voice when voting for new coins, and daily payment of annual interest for your assets.
How do you trade on Mercatox?
After joining the club and signing up with the exchange you first need to send your coins to the platform to start trading, I’ve written a description at the top on how to do that to help you out. After your assets have reached your wallet you are ready to start trading on Mercatox. This is done from the Trade tab in the main menu of the exchange.
You can choose between Limit orders, Market orders, and Stop orders to enter and exit the market which gives you a lot of flexibility. Day trading and even scalping is doable thanks to the one-click trading option with market orders. The Buy and Sell orders are separated from each other and just above these buttons you can find the full transaction fee of the trade. Mercatox is very transparent with the fees on the platform, something that we are always glad to see!
Vote for new coins
So let’s say that you have a new favorite coin that you wan to trade but can’t because it’s not out on the market yet. This is another area where Mercatox stands out among other similar platforms. You can actively vote for new coins that are getting released on the platform. Simply head to their voting page and vote for the coin that you think will be the biggest gainer of the year.
The Mercatox lending is program for investors who doesn’t want to trade them selves. Here you can lend your assets to already profitable traders and they will trade your money for you. Once they profit, you will earn a cut from the gains and both parties win.
Mercatox Margin Trading
The margin trading suit is a section of the exchange that is best suited for professional traders with deep pockets as it comes with inherently more risk added. If you are a wealthy individual and want to take on more risk than usual you are well suited to trade with margin on Mercatox.
Our own experience with Mercatox
Mercatox Funding Methods
Mercatox Withdrawal Fee
Is Mercatox safe and legitimate?
Yes, the exchange is safe to use and has gotten a very good reputation as being a credible altcoin trading platform. There are two security features that I recommend that you activate as soon as you join. The first one being the email account verification log in where you have to confirm your email address everytime your log into your account. It’s easy and it only takes about 10 seconds to click the email that you receive every time you login. The second being the two-factor authentication by Google which is an app you download on your smartphone to add an extra security layer.
How reliable is Mercatox?
When browsing around for public comments of the exchange we see mostly good reviews and happy customers that enjoy trading on a fast platform that is easy to use. The only negative feedback we have seen is some congested blockchain transactions but that is standard where ever you trade.
Is Mercatox regulated?
No, sofar Mercatox is not regulated by any government.
Frequently asked questions
Read what other investors ask about Mercatox. Find answers without searching the web.
The headquarters of the exchange is located in Marshal Islands.
It is an altcoin trading exchange for all kinds of traders that offers a very simplistic approach with a very fast execution system and over 700 altcoin trading pairs listed. It is well suited for both beginners and seasoned day traders.
Yes, Mercatox is available in the United States and all other regions, this is a global exchange.
No, so far the team has not developed a crypto app.
There is no option to buy coins with fiat money on the exchange. To start trading you first need to deposit Bitcoin and choose the altcoin you want to trade.
The standard transaction fee is 0.25%.
The minimum deposit is BTC 0.0001.
No, you can trade cryptocurrencies on Mercatox anonymously without sending in your KYC documents. However, keep in mind that without a full identity verification your daily withdrawal limit is only BTC 1.
The operating company is called MX Digital LTD.
When you log in for the first time to the exchange you need to verify your email by clicking LOGIN TO ACCOUNT in the email you receive. You can choose to disable this feature in the Security section of your profile. However, we recommend that you keep it activated as long as you keep funds on the exchange.